Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q2 2026 Earnings Presentation
10 slides from Royal Gold's earnings presentation, Aug 6, 2026
Slide 1: Second Quarter 2026 Results
AUGUST 6, 2026 Second Quarter 2026 Results
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements: This presentation and the accompanying webcast include “forward-looking statements” within the meaning of U.S. federal securities laws. Forward- looking statements are any statements other than statements of historical fact. Forward-looking statement
Slide 3: Today's Speakers
TODAY’S SPEAKERS Bill Heissenbuttel Paul Libner Martin Raffield President and CEO SVP and CFO SVP, Operations 3
Slide 4: Q2 2026 Overview
Q2 2026 Overview Highlights Other notable developments — Revenue of $450.5M — Repurchased and cancelled 147,205 shares — Record cash flow from operations of $335.2M — Settled fixed delivery obligations related to Relief — Net income of $236.4M, or $2.78/share Canyon mine — After adjustments1, net in
Slide 5: Q2 2026 Revenue: GEOs
Q2 2026 Revenue GEOs1 of 100,000 Royalty Stream Revenue $139.6M $311.0M 31% YoY +83% +133% Higher Cortez Legacy Zone Andacollo $450.5M Contributions Voisey’s Bay Pueblo Viejo Rainy River Total Revenue YoY Khoemacau Wassa Xavantina 69% New Sandstorm / Horizon interests Kansanshi Contributions Stream
Slide 6: Operator Updates
Operator Updates PROPERTIES Mount Milligan On track to achieve guidance of 140,000-155,000 oz of gold and 50-60M lb of copper Rainy River Near-mine and district exploration program started in the district Greenstone Operations continuing to ramp up with higher quarter over quarter production expecte
Slide 7: Q2 2026 Revenue
Q2 2026 Revenue Total Revenue Average Metal Prices1 Q2 2026 Revenue By Metal $450.5M 8% 76% $4,506 $73.15 $6.05 COPPER GOLD +37% +40% +115% +117% 12% $3,280 $4.32 SILVER $209.6M $33.68 Q2 '25 Q2 '26 Q2 '25 Q2 '26 Q2 '25 Q2 '26 Q2 '25 Q2 '26 Gold Silver Copper Other Gold Silver Copper 1) LBMA PM fixi
Slide 8: Financial Results Q2 2026
Financial Results Q2 2026 Revenue: $450.5M Net Income: $236.4M, or $2.78/share — $13.4M G&A — $218.2M net income, or $2.56/share, adjusted2 to — $96.2M DD&A, or $962/GEO1 exclude: $21.9M, or $0.26/share – fair value changes in equity — $21.9M fair value change in equity securities securities — $10.0
Slide 9: Liquidity
Liquidity June 30, 2026 Liquidity: Outstanding financial commitments: — $400M debt and approximately $1.2B of liquidity — $50M for final Warintza stream and royalty available at June 30, 2026: payment Expected Q3 or Q4 2026 JUNE 30, 2026 Undrawn revolving credit facility $1,000M — Hod Maden 15% JV o
Slide 10: Contact: investorrelations@royalgold.com
DIRECT +1 303 573 1660 EMAIL investorrelations@royalgold.com WEB www.royalgold.com